Celcuity (NASDAQ:CELC) Trading Up 8% – Here’s Why

Celcuity, Inc. (NASDAQ:CELC) traded up 8% during mid-day trading on Thursday . The stock traded as high as $135.53 and last traded at $134.44. 509,765 shares were traded during mid-day trading, a decline of 37% from the average session volume of 810,381 shares. The stock had previously closed at $124.47.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Needham & Company LLC raised their target price on Celcuity from $122.00 to $157.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Citizens Jmp raised their target price on Celcuity from $150.00 to $160.00 and gave the stock a “market outperform” rating in a research note on Monday, May 4th. Wall Street Zen cut Celcuity from a “hold” rating to a “sell” rating in a research note on Saturday, April 25th. Wolfe Research reissued an “outperform” rating and issued a $110.00 target price on shares of Celcuity in a research note on Thursday, March 12th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Celcuity in a research note on Monday, April 20th. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Celcuity currently has a consensus rating of “Moderate Buy” and an average price target of $134.50.

Celcuity Stock Up 8.4%

The company has a quick ratio of 10.55, a current ratio of 10.55 and a debt-to-equity ratio of 3.20. The company’s fifty day simple moving average is $117.80 and its 200 day simple moving average is $106.06. The firm has a market capitalization of $6.52 billion, a PE ratio of -35.64 and a beta of 0.09.

Celcuity (NASDAQ:CELC) last issued its quarterly earnings data on Wednesday, March 25th. The company reported ($0.97) EPS for the quarter, topping the consensus estimate of ($1.06) by $0.09. Analysts anticipate that Celcuity, Inc. will post -3.87 earnings per share for the current fiscal year.

Insider Activity

In other Celcuity news, Director David Dalvey sold 25,000 shares of the firm’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $140.68, for a total value of $3,517,000.00. Following the completion of the sale, the director directly owned 65,000 shares in the company, valued at $9,144,200. This trade represents a 27.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Richard E. Buller sold 9,000 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $140.46, for a total transaction of $1,264,140.00. Following the completion of the sale, the director owned 6,760 shares of the company’s stock, valued at $949,509.60. This trade represents a 57.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 37,000 shares of company stock valued at $5,111,950 over the last 90 days. 13.33% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Celcuity

Several large investors have recently made changes to their positions in CELC. Avoro Capital Advisors LLC purchased a new position in shares of Celcuity during the fourth quarter valued at approximately $310,302,000. NEA Management Company LLC lifted its holdings in shares of Celcuity by 64.9% during the fourth quarter. NEA Management Company LLC now owns 3,535,561 shares of the company’s stock valued at $352,637,000 after purchasing an additional 1,391,300 shares during the last quarter. State Street Corp lifted its holdings in shares of Celcuity by 126.6% during the fourth quarter. State Street Corp now owns 1,637,687 shares of the company’s stock valued at $163,343,000 after purchasing an additional 914,887 shares during the last quarter. Apis Capital Advisors LLC purchased a new position in shares of Celcuity during the third quarter valued at approximately $38,334,000. Finally, UBS Group AG lifted its holdings in shares of Celcuity by 910.1% during the third quarter. UBS Group AG now owns 854,483 shares of the company’s stock valued at $42,211,000 after purchasing an additional 769,891 shares during the last quarter. 63.33% of the stock is currently owned by hedge funds and other institutional investors.

About Celcuity

Celcuity, Inc is a clinical-stage biotechnology company specializing in precision oncology diagnostics. The company develops and commercializes predictive biomarker assays designed to identify which patients are most likely to benefit from targeted cancer therapies. By integrating functional profiling of tumor cells with molecular analyses, Celcuity seeks to optimize treatment selection and improve outcomes for patients with solid tumors.

Celcuity’s proprietary platform evaluates tumor cell sensitivity to various therapeutic agents using ex vivo assays that measure DNA damage response and other critical pathways.